K9-K4 Group: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
K9-K4 Group
Largest movements
- Stocks and contracts -€25,406
down €25,406 (-12.4%), from €205,175 to €179,768
- Cash +€23,774
up €23,774 (+46.4%), from €51,256 to €75,030
mainly Net result for the year (+€90,536) and Other debts (+€49,116)
- Tangible fixed assets -€22,035
down €22,035 (-27.9%), from €78,931 to €56,896
- Deferred charges and accrued income -€10,554
down €10,554 (-83.6%), from €12,622 to €2,068
- Reserves -€76,537
down €76,537 (-45.8%), from €167,073 to €90,536
of which Distributable reserves: -€76,537
- Other debts +€49,116
up €49,116 (+34.3%), from €143,369 to €192,485
- Trade debts -€5,934
down €5,934 (-61.5%), from €9,652 to €3,718
- Accrued charges and deferred income +€5,070
up €5,070 (+259%), from €1,957 to €7,027
- Current portion of long-term debt -€4,461
down €4,461 (-70.7%), from €6,312 to €1,851
- Gross operating margin +€7,235
up €7,235 (+4.9%), from €148,603 to €155,839
- Financial charges +€4,891
up €4,891 (+114%), from €4,300 to €9,190
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €353,489 | €320,358 | -€33,131 | -9.4% |
| Fixed assets | 21/28 | €78,931 | €56,896 | -€22,035 | -27.9% |
| Tangible fixed assets | 22/27 | €78,931 | €56,896 | -€22,035 | -27.9% |
| Plant, machinery and equipment | 23 | €33,168 | €28,017 | -€5,151 | -15.5% |
| Furniture and vehicles | 24 | €19,168 | €11,173 | -€7,995 | -41.7% |
| Other tangible fixed assets | 26 | €26,595 | €17,706 | -€8,890 | -33.4% |
| Current assets | 29/58 | €274,558 | €263,462 | -€11,096 | -4.0% |
| Stocks and contracts in progress | 3 | €205,175 | €179,768 | -€25,406 | -12.4% |
| Stocks | 30/36 | €205,175 | €179,768 | -€25,406 | -12.4% |
| Amounts receivable within one year | 40/41 | €5,505 | €6,596 | +€1,090 | +19.8% |
| Trade receivables | 40 | €5,505 | €5,873 | +€368 | +6.7% |
| Other amounts receivable | 41 | - | €723 | +€723 | |
| Cash at bank and in hand | 54/58 | €51,256 | €75,030 | +€23,774 | +46.4% |
| Deferred charges and accrued income | 490/1 | €12,622 | €2,068 | -€10,554 | -83.6% |
| Total equity and liabilities | 10/49 | €353,489 | €320,358 | -€33,131 | -9.4% |
| Equity | 10/15 | €185,673 | €109,136 | -€76,537 | -41.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €167,073 | €90,536 | -€76,537 | -45.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €167,073 | €90,536 | -€76,537 | -45.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €167,816 | €211,222 | +€43,406 | +25.9% |
| Amounts payable after more than one year | 17 | €1,851 | €0 | -€1,851 | -100% |
| Financial debts | 170/4 | €1,851 | €0 | -€1,851 | -100% |
| Amounts payable within one year | 42/48 | €164,008 | €204,195 | +€40,188 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €6,312 | €1,851 | -€4,461 | -70.7% |
| Financial debts | 43 | - | €458 | +€458 | |
| Credit institutions | 430/8 | - | €458 | +€458 | |
| Trade debts | 44 | €9,652 | €3,718 | -€5,934 | -61.5% |
| Suppliers | 440/4 | €9,652 | €3,718 | -€5,934 | -61.5% |
| Taxes, remuneration and social security | 45 | €4,675 | €5,683 | +€1,008 | +21.6% |
| Taxes | 450/3 | €4,675 | €5,683 | +€1,008 | +21.6% |
| Other amounts payable | 47/48 | €143,369 | €192,485 | +€49,116 | +34.3% |
| Accrued charges and deferred income | 492/3 | €1,957 | €7,027 | +€5,070 | +259% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,741 | €22,035 | +€1,294 | +6.2% |
| Other operating charges | 640/8 | €2,572 | €3,566 | +€993 | +38.6% |
| Gross operating margin | 9900 | €148,603 | €155,839 | +€7,235 | +4.9% |
| Operating profit (loss) | 9901 | €125,290 | €130,238 | +€4,948 | +3.9% |
| Financial income | 75/76B | €420 | €302 | -€118 | -28.1% |
| Recurring financial income | 75 | €420 | €302 | -€118 | -28.1% |
| Financial charges | 65/66B | €4,300 | €9,190 | +€4,891 | +114% |
| Recurring financial charges | 65 | €4,300 | €9,190 | +€4,891 | +114% |
| Profit (loss) for the period before taxes | 9903 | €121,411 | €121,349 | -€61 | -0.1% |
| Income taxes | 67/77 | €30,998 | €30,814 | -€184 | -0.6% |
| Profit (loss) for the period | 9904 | €90,413 | €90,536 | +€123 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €90,413 | €90,536 | +€123 | +0.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.